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Fiscal Deficit target of 3.9% for 2015-16 seems Achievable, says the Economic Survey

Budget - Dated:- 26-2-2016 - Coming Year expected to be a Challenging one from the Fiscal point of view The Economic survey 2015-16 states that the fiscal deficit target of 3.9 per cent for the year 2015-16 seems achievable. This assessment is based .....

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higher level of capital expenditure on the plan side, lower level of subsidies and enhanced untied resources transferred to the states following the acceptance of recommendations of the 14th Finance Commission, are some of the salient developments o .....

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revenue by raising excise duty on petroleum product. Besides, severd major measures were initiated on both indirect and direct taxes in 2015-16. On the issue of the subsidies, the Economic Survey states that the rationalization and reprioritization o .....

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tes for 2015-16. The 1.7% decline in majors subsidies was due to a near 44.7% decline in petroleum subsidy during April - December 2015 while other major subsidies- Food and Fertilizer-increased by 10.4% and 13.7% respectably during the period. Quoti .....

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The benign fiscal outcome so far in the year has been due to improved tax buoyancy and prudent expenditure management with assistance from the decline in oil price. The other notable highlights of the current year have been increased tax devolution .....

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with union excise duties growing by about 68%. Direct Taxes - both on personal income and corporate income- grew by more than 10% during the period. Disinvestment receipts at end - December 2015, though higher than in the previous year, stood only at .....

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f the Central Government at sustainable levels, relative to the size of the economy. It says that the outstanding external debt which is 1.5% of GDP, is only small fraction of the total liability of the centre and is a declining proportion of GDP. On .....

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